Note : Les descriptions sont présentées dans la langue officielle dans laquelle elles ont été soumises.
SECONDARY MARKET INTEGRATION WITHIN EXISTING DATA
FRAMEWORK
BACKGROUND
[0002] In most customer interactions, a customer may be faced with various
barriers, or elements of friction, that may prevent them from proceeding with
the
interaction, where the particular barriers may vary from interaction to
interaction. In
the context of a purchase transaction, for example, customers may wonder if
they can
afford to make the purchase, or whether they need to make the purchase. For
instance, a customer looking to purchase a pair of designer jeans may assess
whether
they can afford the purchase based on their budget or determine whether they
have
enough space in their wardrobe. Customers may also face mental barriers
regarding a
transaction, for example, "shopping guilt" or for those customers who are
environmentally conscious, questions regarding the sustainability of the
product. It is
often the case that the mental barriers are subjective in nature, and may be
influenced
by various externalities. For example, a customer may assess whether they
truly have
a need for a product, or whether they strongly desire the product. This
assessment
may involve additional subjective considerations, for example whether the
customer
owns the same or similar products. By removing these barriers, customers are
more
likely to engage in the interaction (i.e., proceed with the purchase
transaction). For
example, if a product is on sale, a customer may be more inclined to make the
purchase.
[0003] Customers have turned to secondary markets to address some of these
barriers, as secondary markets can allow a customer to off-load or sell
certain items.
By way of example, a customer can sell a coat that he/she owns, which can
provide
additional funds to the customer as well as free up space in their wardrobe.
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Increasing a customer's purchasing power may influence whether the customer is
able or willing to conduct future transactions, e.g., additional purchases.
Similarly, a
customer may choose to purchase an item from a secondary market because it is
being offered at a significant discount.
10004] However, secondary markets themselves present barriers to access, as it
is
often time and labor intensive process to participate in the market, which
most
customers are simply unwilling or unable to commit to. For example,
participating in
flea markets is a time consuming activity and has no guarantee of success.
This is
particularly problematic for customers who are only looking to off-load one or
two
individual items. While electronic secondary markets (e.g.. eBayTm and Amazon)
allow
for more sporadic access to secondary markets, they still require a
significant amount
of effort on the part of the customer, who must prepare a detailed product
listing for
the product, including a description, staged photos, and the like. Moreover,
existing
electronic secondary markets are difficult to navigate by potential purchasers
looking
for a particular product, significantly diminishing the chances for a
successful
transaction. Furthermore, from the perspective of a product retailer,
secondary
markets can be extremely harmful to product branding, as the product retailer
has no
control over how products are presented (e.g., visually or descriptively)
through these
secondary markets.
SUMMARY OF THE INVENTION
[0004a] In one aspect of the invention, there is provided a system for
integrating a
secondary market into a product retailer website, the system comprising a
processor
and a memory in communication with the processor, the memory having processor
executable instructions stored thereon that when executed by the processor
cause the
processor to: automatically recognize a client device of a market participant
interacting with the website; retrieve a robust customer profile for the
market
participant from the memory; generate a product area on a webpage for the
website
based on the robust customer profile for the market participant; retrieve a
market
state of the secondary market from the memory, the market state including a
set of
product listings corresponding to products listed on the secondary market; and
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generate a secondary market area on the webpage based on the market state of
the
secondary market.
[0004b] In another aspect of the invention, there is provided a computer-
implemented method of integrating a secondary market into a product retailer
website, the method comprising: automatically recognizing, at a server having
a
processor and a memory in communication with the data processor, a client
device of
a market participant interacting with the website; retrieving, from the
memory, a
robust customer profile for the market participant; generating a product area
on a
webpage for the website by the processor based on the robust customer profile
for the
market participant; retrieving a market state of the secondary market from the
memory, the market state including a set of product listings corresponding to
products listed on the secondary market; and generating a secondary market
area on
the webpage by the processor based on the market state of the secondary
market.
BRIEF DESCRIPTION OF THE DRAWINGS
[0005] Figure 1 provides an example of the system environment in which the PPR
system may operate.
[0006] Figure 2 provides an example of an e-commerce website having
connections
with the secondary market integrated therein.
[0007] Figure 3 illustrates an example of a user interface that may be
provided on
the mobile device of a customer
[0008] Figure 4 provides an example of the system architecture on which the
PPR
system may be implemented.
[0009] Figure 5 illustrates a high-level logic flow that the PPR system may
employ
when servicing a mobile application request to interact with the secondary
market.
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[0010] Figure 6 illustrates a high-level logic flow that the PPR system may
employ
when integrating a secondary market within an e-commerce website.
DETAILED DESCRIPTION
[0011] The Peer-to-Peer Resale (PPR) system described below aims to reduce
barriers in customer transactions by providing a platform through which a
customer
can interact with secondary markets. The PPR system, for example, may provide
a
way for customers to sell, or otherwise offload, products to secondary
markets, which
may increase the customer's purchasing power. The customer (i.e., a market
participant) may be able to place items on the secondary market in exchange
for
currency, credit with a product retailer, or some combination thereof, which
may be
stored in a data record associated with the customer in the PPR system or
transmitted
to other systems for the customer's usc. In contrast to current secondary
markets, the
PPR system may facilitate sales to the secondary market through integration
with
existing retail channels of a product retailer. A retailer, for example, may
integrate
the secondary market into their e-commerce platform. By integrating the
secondary
market within an existing sales channel, the customer may be able to establish
a
brand connection in the secondary market that they would not otherwise be able
to
create. Providing the secondary market through an existing sales channel of
the
product retailer, may also increase the likelihood of a successful sale in the
secondary
market, as customers looking to purchase the product from the secondary market
may
be more readily able to locate products of interest to them. From a product
retailer's
perspective, this may allow the product retailer to control the sales
experience in the
secondary market in ways in which they are currently unable to. The PPR
system,
for example, may allow product retailers to better control the branding of
their
products in the secondary market (e.g., through the presentation of the
product on the
retailer's e-commerce platform).
[0012] The PPR system may also facilitate an effortless sales experience for
the
customer, allowing them to easily place items on the secondary market. The PPR
system may leverage information that a product retailer may have regarding the
customer in doing so. For example, the PPR system may create a virtual product
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inventory for a customer based on previous transactions that the customer may
have
had with the product retailer, and may allow the user to select items from the
virtual
inventory to sell on the secondary market. The PPR system may automatically
generate a product listing based on the selected item, which may be curated in
in a
manner proscribed by the product retailer, and may place the product listing
on the
secondary market integrated within the product retailer's existing sales
channel.
[0013] By integrating the secondary market within a sales channel of the
product
retailer, the product retailer may be able to capture transactions in
secondary markets
that would otherwise take place outside of their retail ecosystem. This may
provide
additional opportunities for customer engagement, which the product retailer
may use
to cross-sell or up-sell their retail products. The product retailer may also
be able to
control the sales experience in the secondary market for the customer,
allowing the
retailer to better engage with their customers. The PPR system, for example,
may
promote discovery of new items by the customer, and may provide a social
aspect,
through a social platform, to facilitate this discovery.
[0014] Figure 1 provides an example of the system environment in which the PPR
system may operate.
[0015] The PPR system environment may include various customers 110 (e.g.,
customers looking to sell products, referred to as sellers 110a, and customers
looking
to purchase products, referred to as purchasers 110b), social influencers 120,
and
product retailers 130, along with a PPR system 150 that may facilitate
interaction
between these different entities. The PPR system may facilitate interaction
between
different customers 110, or between a customer 110 and a social influencer
120. The
PPR system may also promote interaction between the different customers 110
and
the product retailers 130.
[0016] The PPR system
150 may include one or more input/output interfaces 170,
a display 171, one or more communication interfaces 172, and processing
circuitry
175. The processing circuitry 175 may include one or more processors 176,
memory
177 and may be connected with one or more databases 180. The communication
interfaces 172 may include, as examples, a wireless communication interface
172a, a
wired communication interface 172b, and a cellular communication interface
172c,
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any of which may support connectivity over any type of network (e.g., WiFi, 4G
/
LTE, or Ethernet) for receiving data and transmitting data. The PPR system 150
may
receive and transmit data between the different customers 110, social
influencers 120
and product retailers 130 over both private networks (e.g., a network within a
given
enterprise) and public networks (e.g., including the Internet). The PPR system
150
may interface with an existing retail sales channel 131 of the product
retailer 130, for
example, an e-commerce website maintained by the product retailer 130, and may
facilitate the integration of a secondary market 135 within the existing sales
channel
131.
[0017] By way of example, in the context of clothing sales, the PPR system may
be
used to provide a secondary market 135 for customers 110 in which the
customers
110 may be able to purchase and sell clothing and other accessories. A
customer's
purchasing habits may be driven by their own unique style (e.g., bohemian,
grunge
chic, preppy), which may be constantly evolving and may be heavily influenced
by
trends in the fashion world. In the fashion community, for example, individual
stylists and fashion bloggers (i.e., social influencers 120) may provide
inspiration to
these customers by creating different "styled looks" or outfits that customers
may
wish to replicate for themselves. In many instances, the customer 110 may be
willing
to purchase the different elements of the outfit directly from a fashion
retailer 110 at
retail prices. In other cases, customers 110 may turn to secondary markets to
make
such purchases.
[0018] For example, some customers 110 may be price conscious and may be
looking to purchase the look at a discount. The PPR system 150 may facilitate
this
interaction by connecting purchasers 110b with sellers 110a or with social
influencers
120 who are looking to sell certain products. A seller 110a, for example, may
have
purchased an item of clothing but never worn it, or have only worn it to a
particular
event, and now may want to sell the product to make additional room in their
wardrobe. Similarly, a fashion bloggcr may have purchased clothes to style and
photograph a particular look, and may be willing to sell the product at a
discount. In
another scenario, it may be the case that a product is difficult to obtain,
for example,
if the product is currently out of season or if the social influencer 120 has
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access to a product. In such situations a purchaser 110b may be willing to
purchase
the product directly from other sellers 110a or from the social influencer
120,
respectively, and may even be willing to pay a premium for the product.
[0019] While the subsequent discussion may make continued reference to the
above-described clothing sale example, the invention is not thus limited and
may
naturally extend to other products and contexts. For example, in other
implementations, the PPR system may serve to connect consumers of video games
(i.e., customers 110) with professional garners (i.e., social influencers 120)
and video
game retailers or video game studios (i.e., product retailers 130).
[0020] As noted above, the interaction between customers 110, social
influencers
120 and product retailers 130 may take place within a secondary market 135
integrated within an existing sales channel 131 of the product retailer 130 by
the PPR
system 150. Customers 110, for example, may be able to access the secondary
market 135 through an e-commerce website or mobile application (i.e., sales
channel
131) of the product retailer 130. Social influencers 120, likewise, may be
able to
present curated product descriptions (i.e., a combined product listing)
through the e-
commerce website or mobile application, and may choose to list one or more of
the
products present in the curated product description on the secondary market
135 as
well. The product retailers 130, through the PPR system 150, may be able to
control
various aspects of these customer interactions, and may also be able to
directly
interact with the customers 110 themselves.
[0021] Figure 2 illustrates an example of a sales channel 131 of a product
retailer
130, in the form of an e-commerce website, with connections to the secondary
market
135 integrated therein. The e-commerce website may present a graphical
interface
200 to a customer 110 with which a customer 110 may interact. Figure 2
illustrates
an example of a home page of an e-commerce site provided by a product retailer
130.
The graphical interface may include a site navigation bar 209, one or more
curated
product description areas 219, a secondary market navigation bar 229, and a
secondary market listing area 239.
[0022] The site navigation bar 209 may include various elements that a
customer
110 may interact with. As illustrated, for example, the site navigation bar
209 may
6
provide a browse element 20S, a foilowed styles element 206, and a shopping
cart
element 207. The site navigation bar may also include a search element 208,
and a
home page element 201. The navigation bat 209 may be provided as part of one
or
more pages that the customer 110 may navigate to on the e-commerce website,
and
the home page clement 201, when selected by the customer 110 may return the
customer 110 to the home page of the e-commerce site shown in Figure 2.
[0023] The browse element 205, when selected by the customer 110, may direct
the
customer 110 to information regarding products offered by the product retailer
130.
Additionally, or in the alternative, the browse element 205 may direct the
customer
= 110 to recommended products, which the PPR system 150 may identify based
on a
robust customer profile (also referred to as a customer genome), which may
provide
an indication as to the product preferences of a user (e.g., size, color,
style). The PPR
system 150 for instance may be able to match product attributes of the
products
offered by the product retailer 130 to the product preferences provided by the
customer genome. The customer genome and systems and methods for constructing
and applying the customer genome are described in U.S. Application No.
14/835,187,
filed August 25, 2015, entitled SYSTEM ARCHITECTURE FOR CUSTOMER
GENOME CONSTRUCTION AND ANALYSIS, which is commonly assigned.
[0024] In some implementations, the browse element 205, when selected
by the
customer 110, may direct the customer 11010 information regarding the
different
social influencers 120 who have chosen to present curated product descriptions
(e.g.,
styled looks) and/or list one or more corresponding products on the secondary
market
135 integrated within the sales channel 131 of the product retailer 130. The
product
retailer 130, through the PPR system 150, may control which social influencers
120
caroll with the product retailer 130 to present curated product descriptions
on the
sales channel and/or list corresponding products on the secondary market 135.
The
product retailer 130, for example, may allow any social influencer 1.20 to
enroll with
the product retailer 130 to present curated product descriptions and/or list
products on
the integrated secondary market 135. In other cases, the product retailer 130
may
choose to selectively control the type of social influencers 120 who may be
able to
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enroll with the product retailer 130, for example;only allowing social
influencers 120
who meet certain criteria (e.g., having a certain number of FacebookTm.
InstagramTm. or
YouTubeTm followers) to enroll with the product retailer 130. which may allow
the
product retailer 130 to maintain a quality standard for the platform. The
browse
element 205 may additionally, or in the alternative, direct the customer 110
to
information regarding social influencers 120 that the PPR system 150 may
recommend for the customer 110, who the PPR system may identify using the
customer genome. The PPR system 150, for example, may be able to match a
product preference (e.g., a style preference) for the customer 110, provided
by the
customer genome, to one or more tags (e.g., runway fashion, avante garde,
grunge
chic) associated with a social influencer 120 or one or more tags associated
with a
curated product description created by the social influencer 120.
[0025] In other implementations, the browse element 205, when
selected by the
customer 110, may direct the customer 110 to information regarding different
curated
product descriptions (e.g., styled looks) that have been created by social
influencers
120 or the product retailer 130 itself. In some implementations, the PPR
system 150
may direct the customer 110 to information regarding recommend curated product
descriptions (e.g., recommended styled looks), which the PPR system 150 may
select
using the customer genome. The PPR system 150, for example, may be able to
match a product preference (e.g., a style preference) for the customer 110,
provided
by the customer genome, to one or more tags associated with the curated
product
description.
[0026] The followed styles element 206, when selected by the customer
110, may
provide the customer 110 with a listing of the different social influencers
120 that the
customer 110 may be following. Customers 110 may follow social influencers 120
in a variety of ways, and may be assisted by the PPR system 150 in doing so.
For
example, the customer 110 may be able to select different social influencers
120 to
follow when browsing information regarding the different social influencers
120, as
described above. The PPR system 150 may also use the customer genome to
automatically identify social influencers 120 who the customer 110 may wish to
follow. The customer genome, for example, may identify social influencers 120
that
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the customer 110 is following on external social networks (e.g., Facebook,
Instagram,
Pinterest), and the PPR system 150 may look to see if the identified social
influencers
120 have enrolled to present curated product descriptions with the product
retailer
130. The PPR system 150 may be configured to automatically follow social
influencers 120 for a customer 110, who may be identified using the customer
genome, and may allow the customer 110 to modify this after the fact. For
example,
as noted above, the customer genome may identify social influencers 120 that
the
customer 110 is following on external social networks.
[0027] In some implementations, the customer 110 may be able to follow
certain
product categories (e.g., preppy or grunge chic), and the PPR system 150 may
identify curated product descriptions created by the product retailer 130 or
social
influencers 120 by matching the product categories against the curated product
descriptions. The PPR system 150 may also be configured to automatically
follow
product categories for a customer 110, which may be identified using the
customer
genome, and may allow the customer 110 to modify this after the fact. The
customer
genome, for example, may be able to examine the transactional history of the
customer 110 to determine product category preferences. For instance,
determining
that the customer 110 is interested in spring dresses based on the seasonal
purchase of
dresses in the past.
[0028] The shopping cart element 207, when selected by the customer, may
direct
the customer to a virtual shopping cart, which may include products that the
customer
110 has chosen to purchase from the product retailer 130 or from other sellers
110a
and social influencers 120 via the secondary market 135. The search element
208
may allow the user to search the product retailer's 130 e-commerce website for
different products and styles, or curated product descriptions and social
influencers
by entering search terms in the search field element 208a and selecting the
search
button element 208b.
[0029] The curated product description areas 219 may present a purchaser
110b
with curated product descriptions that have been created by a social
influencer 120 or
by the product retailer 130, and may enable the purchaser 110b to purchase one
or
more products featured in the mated product description. The curated product
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description areas 219 may be displayed with a consistent presentation (e.g.,
having a
common layout), which may include an image of the one or more the products
210,
relevant information regarding the one or more products 215, and a listing of
the one
or more products 216 contained within the curated product description. The
image of
the one or more products 210 may be created by the social influencer 120 or
product
retailer 130, and may present a visually appealing presentation of a product.
In this
way, the product retailer 130 may be able to control branding of their
products on the
secondary market 135. The relevant information regarding the one or more
products
215 may similarly be prepared by the social influencer 120 or the product
retailer
130, and may provide relevant information regarding the one or more products
and
may describe them in an engaging way. The relevant information 215 may also
include a social influencer identification element 211, which identifies the
social
influencer 120 (e.g., Rachel Zoe, Kemal Harris) who has created the curated
product
description. The product listing 216 may list each of the products in the
curated
product description along with corresponding product names 213, and may
present
the purchaser 110b with different purchase options 214. The purchaser 110b,
for
example, may be able to purchase a product directly from the social influencer
120
associated with the product listing by selecting the "Direct" interface
element, or
purchase the product new from the product retailer 130 by selecting the "New"
interface element. In some instances, a particular product identified in the
curated
product description may not be available from either the social influencer 120
or the
product retailer 130. In such cases, the purchaser 110b may be able to select
the
"Shop Look" interface element, which may present the purchaser 110b with
products
available directly from the product retailer 130 or from other sellers 110a or
social
influencers 120 on the secondary market 135 that are similar (e.g., having the
same
color and style) to the product presented in the curated product description.
[0030] The curated product description areas 219 that are presented as part
of the
home page may be automatically selected by the PPR system. The PPR system 150
may select particular curated product descriptions 219 based on input from the
product retailer 130 (e.g., to promote certain products), or by using the
customer
genome. The PPR system, for example, may be able to match a product preference
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of the customer 110, provided by the customer genome, to one or more tags
associated with the curated product description.
[0031] The home page may also display products that have been listed on the
secondary market in a secondary market listing area 239, and may include a
secondary market navigation bar 229 that allows customers 110 to navigate the
secondary market 135.
[0032] The market listing area 239 may provide listings for individual
products that
are listed on the market. For each individual listing, an image element 230a-g
for the
product may be displayed along with relevant information for the product
listing,
including a product name element 232a, providing the product name, a listing
price
element 234a, providing the listing price, and a seller ID element 231a,
providing the
seller's name, on-line handle (e.g., "fashionista22") or identification
number. A
purchaser 110b visiting the website may be able to select the product image
element
230a or the relevant information (i.e., the product name element 232a, listing
price
element 234a, or seller ID element 231). The product image element 230a,
product
name element 232a, and listing price element 234a, when selected by the
customer
110, may direct the purchaser 110b to a more detailed product listing page, or
add the
product listing to the purchaser's virtual shopping cart. The seller ID
element 231,
when selected by the customer 110, may direct the purchaser 110b to a page
containing information regarding the seller 110a (or social influencer 120),
for
example, presenting all products that the seller 110a (or social influencer
120) has
listed.
[0033] The individual product listing may also provide an alternative sellers
element 233a, which when selected by the customer, may present the customer
110
with product listings for the product that are available from other sellers
110a on the
secondary market 135 or directly from the product retailer 130. In some
implementations, the PPR system 150, in identifying alternate sellers 110a of
the
product, may be able to leverage a product data platform of the product
retailer 130,
which may allow for better identification and aggregation of closely related
products
that the purchaser 110b may be interested in. For example, products that are
described by a stock keeping unit (SKU) may identify a specific product, but
may not
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be used to identify related products in a product family. As a more specific
example,
a SKU may identify a particular shirt having a particular style, color, size,
but does
not capture the same shirt in a different color or different size. By using
the product
data platform of the product retailer 130, which may provide product data and
retail
taxonomy information, the PPR system 150 may be able to identify closely
related
products (e.g., products in the product family), for example, identifying
shirts having
the same style but available in a different color or size. In this way, the
PPR system
150 may allow a purchaser 110b to more easily and effectively locate the
product that
they are looking to purchase, when compared to traditional secondary markets.
For
instance, in the clothing example, customers may have a preference for a
particular
size, or may wish to find the shirt in a more flattering color. The ability to
automatically identify and group these closely related products can increase
the
likelihood of sales, as the PPR system is able to present the customer 110
with what
they are looking for without the customer 110 having to browse the entire
secondary
market 135. It may also promote direct sales from the product retailer 130, as
the
customer 110 is able to purchase the product that they are looking for
directly from
the product retailer 130 when it may not be available on the secondary market
135
(e.g., when the secondary market 135 does not have a dress in the customer's
size).
[0034] As mentioned above, the website may also provide a secondary market
navigation bar 229 that may allow the customer 110 to navigate the secondary
market
135. The navigation bar 229, for example, may provide a recent listings
element 220,
suggested category elements 221a-b, and a more suggestions element 222.
[0035] The recent listing element 220, when selected by the customer 110, may
filter or adjust the listings provided in the secondary market listing area
239 to
display those products that have been listed most recently on the secondary
market
135 or within a certain time period (e.g., past few hours). For instance, the
customer
110 may be able to filter the listings to show those listings on the secondary
market
135 that have been listed within the past 24 hours or the last ten product
listings.
[0036] The suggested category elements 221a-b, when selected by the customer
110, may filter or adjust the listings provided in the secondary market
listing area 239
to display those products listed on the secondary market 135 that fall within
a
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particular product category. The more suggestions element 222, when selected
by the
customer 110, may provide the customer 110 with additional filter elements for
additional suggested product categories. The suggested product categories may
be
specified by the product retailer 130 or may be determined by the PPR system
150,
using the customer genome, which may provide product categories that are of
greatest interest to the customer 110.
[0037] Figure 3 illustrates an example of a mobile device 111 that the
customer
110 may use to place items for sale on the secondary market 135. The mobile
device
111 may include a display 340, input/output interfaces 350, communication
interfaces
352, and device processing circuitry 355. The input / output (I/O) interfaces
350 may
include a touch sensitive display, voice or facial recognition inputs, video
and still
image cameras, temperature sensors, vibration sensors, rotation and
orientation
sensors, buttons, switches, speakers and other interface elements. The device
processing circuitry 355 may be used to implement any of the desired
functionality of
the mobile device 111. The device processing circuitry 355 may include any
combination of hardware, software, firmware, or other logic, and may be
implemented, for example, with one or more systems on a chip (SoC),
application
specific integrated circuits (ASIC), discrete analog and digital circuits, and
other
circuitry.
[0038] The device processing circuitry 355, for example, may include one or
more processors 360 and memory 365. The memory 365, for example, may store
control instructions 366 that the processor 360 executes to carry out desired
functionality for the mobile device 111 along with control parameters 367 that
specify configuration and operating options for the control instructions 366.
The
memory 365 may also store any wireless data, Bluetooth data, cellular 3G,
4G,
LTE) data, or other data 368 that the mobile device 111 may send, or receive,
through
the communication interfaces 352, which may include Radio Frequency (RF)
transmit (Tx) and receive (Rx) circuitry 353 capable of transmitting and
receiving
signals through one or more antennas 354. The memory 365 may also store
application data 369 that can be executed to interface with the PPR system
100. The
device processing circuitry, for example, may be capable of executing an
application
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that presents a graphical user interface 310 to the customer 110 for
interfacing with
the PPR system 100.
[0039] As illustrated in Figure 3, the graphical user interface 310 may
display
various product tiles 311 that represent products that the customer 110 has
previously
purchased from a product retailer 130. The user interface 310 may, for
example,
display product tiles 311 for each product in a virtual product inventory of a
customer, which may be built and managed using the customer genome. The
customer 110 may be able to select the individual product tiles 311 through
the user
interface 310 in order to list the corresponding product on the secondary
market 135.
The user interface 310 may also provide additional listing details 330 when
the
product tile 311 is selected, for example, in the form of a pop-up frame or
bubble.
The listing details 330 may include a suggested price field 331, which may be
populated with a suggested price for listing the product on the secondary
market 135,
and may include a price adjustment element or field 332, which may allow the
user to
adjust the listing price for the selected product. The suggested price field
331 may
suggest a value of the product in terms of currency or store credit, or a
combination
thereof, which may be determined based on price analytics of the secondary
market
135. The listing details 330 may also include a push-to-market button 333
which the
customer may select to automatically generate a product listing and place the
product
listing on the secondary market 135. The user interface 310 may also attach
status
indicators 315 to products that have been listed on the secondary market 135.
In
some implementations, the product retailer 130 may choose to provide the
customer
110 with store credits for placing, or actually selling, a product on the
secondary
market 135, in order to promote use of the integrated secondary market 135 or
promote future sales directly with the product retailer 130.
[0040] Figure 4 illustrates an example of the system architecture 400 on
which the
PPR system 150 may be implemented. The system architecture 400 may include a
PPR platform service layer 420 that may leverage a customer genome platform
411
and a product data platform 412 provided in the data layer 410, to enable
functionality for mobile applications 431 and e-commerce platforms 432 at the
application layer 430. The service layer 420 may provide state management 421
and
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price analytics 422 functionality, which may be exposed to the mobile
applications
431 and e-commerce platforms 432 via an application programming interface
(API).
The API (e.g., a Representational State Transfer (REST) API) may define
various
function calls that the mobile applications 431 and e-commerce platforms 432
may
invoke to request information from the service layer 420.
[0041] The product data platform 412 may be exposed within the data layer
410,
and to the service layer 420 and application layer 430 via an API (e.g., a
REST API),
which may define various function calls which the PPR platform service layer
420
may invoke to request product information details. The product data platform
412
may include a database of information for products of the product retailer
130, which
for example, may be used in generating product listings for the secondary
market
135. The product data and retail taxonomy information (i.e., the relationship
between
UPC /barcode information and product details (e.g., color, size, etc.)) may
enrich the
product listings in a way that traditional secondary markets simply cannot.
[0042] The customer genome platform 411 may be exposed to the service layer
420 and application layer 430 via an API (e.g., a REST API), which may define
various function calls which the service layer 420 and application layer 430
may
invoke to request information regarding a particular customer 110 (or social
influencer 120). For instance, as described above, the customer genome
platform 411
may create a robust customer profile (or customer genome) for a customer 110,
which may provide different preferences and characteristics for a given
customer that
may be derived from different data sources. By way of example, the customer
genome may process the transactional history 416 of a customer 110 to build a
virtual
product inventory 417 (e.g., a virtual closet) of products that a customer 110
(or
social influencer 120) has purchased from the product retailer 130. The
customer
genome may make use of the product data platform 412 in building the virtual
product inventory 417, as it may provide additional details regarding a
particular
transaction. In some implementations, the customer genome may be updated in
real
time, for example, adding products to the virtual product inventory 417 as
soon as
they are purchased from the product retailer or from the secondary market 135.
The
PPR system 150 may utilize this virtual product inventory 417 to allow
customers
CA 02942696 2016-09-22
110 (or social influencers 120) to conveniently sell previously purchased
products on
the secondary market, e.g., by using a mobile application, as described above.
[0043] The customer genome platform may also determine various customer
product preferences and purchasing preferences 415 from the transactional
history
416 (e.g., a size or style preference) of a customer. The customer genome may
make
use of the product data platform 412 in determining customer product
preferences, as
it may provide additional details regarding a particular transaction. For
example, a
particular transaction entry may only include a SKU and a purchase price. The
product data platform 412 may be able to provide additional details regarding
the
product, for example, through associations between the SKU and product details
(e.g., size, color, style, etc.). The customer genome may also process the
transactional history 416 to determine purchasing preferences for a customer
110
(e.g., price sensitivity information, engagement channel preferences, etc.),
which may
be used to perform price analytics by the service layer 420. For example, the
transactional history 416 of a customer may indicate that a customer often
purchases
products using gift cards or store credit, and the pricing analytics performed
at the
service layer 420 may account for this in providing a suggested price to the
seller
110a (e.g., providing more store credit than actual currency).
[0044] Moreover, by capturing transactions on the secondary market 135, the
product retailer may be able to build a richer profile of individual customers
shopping
behavior. Capturing a higher proportion of a customer's transactions (i.e.,
spending)
and tracking this behavior over time, may lead to different insights for the
product
retailer. For example, by monitoring the listing of products, or sale of the
products,
on the secondary market 135, through the customer genome, a product retailer
may
be able to identify a demand for a particular product that is no longer in
production or
for a particular product price point, and adjust their merchandising strategy
accordingly. For instance, a product retailer 130 may be compelled to bring
back the
product line if sufficient demand exists, or may develop a product line
targeted
towards a different price point.
[0045] The service layer 420 may manage the secondary market 135, and may
track what products are listed for sale and which products have been sold.
Further, as
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noted above, the PPR system 150 may build a virtual product inventory for a
customer 110 or for a social influencer 120, and the service layer 420 may
manage
whether particular products in the virtual product inventory are listed on the
secondary market 135. As noted above, the service layer 420 may provide state
management of the secondary market 135, and may maintain state information
regarding products in the virtual product inventory 417. The state information
may
include parameters indicating whether a product in the virtual product
inventory 417
is listed on the secondary market 135 as well as the way the product is listed
on the
secondary market 135 (e.g., the listing price, listing date, etc.). When a
listing
expires, is removed, or the product is purchased, the service layer 420 may
update the
state of the product on the secondary market 135 and in the virtual product
inventory
417 of the customer 110 (or social influencer 120).
[0046] The service layer 420 may also provide price analytics for products
on the
secondary market 135, which may look at the historical pricing of products on
the
secondary market 135 or from the product retailer 130, as well as the
frequency at
which products are listed and sold. The price analytics, fat example, may use
this
information to model the secondary market 135 and provide suggested pricing
information to product sellers 110a or social influencers 120. The price
analytics
may determine a suggested price for a particular product (e.g., based on the
product
SKU). By way of example, the suggested price may be calculated based on the
retail
price, which may be reduced based on the time since the purchase (e.g., days,
months, years), a quality factor of the product, and any other discount
factors. This
information may be used to analyze trends within the secondary market to
better
understand customers, for example, to determine the effect that particular
social
influencers have on the sale of particular products.
[0047] In some implementations, the PPR system may model the demand for a
particular product by looking at the number of similar products listed on the
secondary market and analyzing the lists for the similar products. For
instance, the
PPR system may identify products that are listed, or have previously been
listed, on
the secondary market having similar product details (e.g., size, color and
style), and
may analyze the associated product listings (e.g., to determine a total number
of
17
CA 02942696 2016-09-22
listings, an average listing duration, an average listing price and an average
sale
price). The PPR system, in modelling the demand for a particular product, may
also
identify the potential customers who are participating in the secondary
market, for
example, by using the customer genome to identify customers with related
product
preferences (e.g., having a preference for products of that size, color and
style), and
look at the purchasing preferences of those customers (e.g., their price
sensitivity) in
determining the suggested price.
10048] Figure 5 provides a high-level example of the logic that the PPR system
may
perform in facilitating a customer transaction in the secondary marketplace
135,
where the customer is looking to make a product purchase, for example, using a
mobile application 431, as described above. The PPR system 150 may receive a
request to initiate a sales transaction (i.e., participate in the secondary
market 135)
(501). In response, the PPR system 150 may load the customer's virtual product
inventory, which lists the products previously purchased by the customer 110
from
the product retailer 130 (502). The PPR system may determine the market state
(e.g.,
listed/unlisted or sold/unsold) of the products in the virtual product
inventory (503),
and present the virtual product inventory to the customer 110 (504). The
customer
110 may select a particular product for placement on the secondary market
(505). In
response to the customer selection, the PPR system 150 may generate a
suggested
price for the listing (506), and may present the suggested price to the
customer 110.
In doing so, the PPR system 150 may retrieve product details associated with
the
particular product, including purchase history data (e.g., a purchase date and
price).
The customer 110 may optionally adjust the suggested price (507), and may then
decide to place the product on the secondary market at the suggested price (or
adjusted suggested price) (508). The PPR system 150 may generate a curated
product listing for the product based on the product details and the suggested
price
(or adjusted suggested price), and may adjust the market state for the product
and
attach a status indicator to indicate that the product has been placed on the
secondary
market (509). Once placed on the market, the purchasing power of the customer
may
be adjusted (e.g., increased) in an amount corresponding to the suggested
price (or
adjusted suggested price).
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[0049] Figure 6 provides a high-level example of the logic that the PPR system
may
perform in integrating a secondary market into a product retailer website. The
PPR
system may automatically recognize a customer interacting with the website
through
a client device (e.g., a personal computer or smart phone) (601). In response,
the
PPR system may load the robust customer profile (i.e., the customer genome) of
the
customer (602). The PPR system may generate a product area for the website
which
may provide one or more curated product descriptions (i.e., a combined product
listing) that may enable the customer to purchase one or more individual
products
featured in the curated product description (603). In some implementations,
the
curated product descriptions that are provided in the product area may be
automatically identified using the customer genome, for example, by
identifying one
or more products within the curated product description having characteristics
that
correlate to customer product preferences that are stored in the customer
genome. In
other implementations, the PPR system may identify a social influencer that
the
customer is following, and may include curated product descriptions that are
associated with the social influencer (e.g., curated product descriptions that
the social
influencer has designed). The curated product descriptions themselves may be
rendered according to a pre-defined layout designed by a social influencer
and/or the
product retailer, and may include an image that presents the products in a
visually
appealing fashion along with relevant information regarding the products and a
product listing of the different products included in the curated product
description
(604).
[0050] In addition, the PPR system may provide embedded links for each of the
different products, which enable different purchasing options that the
customer may
be able to select (605). In doing so, the PPR system may determine whether a
particular product is available directly from the product retailer or via the
secondary
market and whether similar products are available from the product retailer or
via the
secondary market, by matching product attributes of the particular product
against the
product retailer inventory and product listings on the secondary market. The
PPR
system may also generate a secondary market area for the website that may
display
products that are actively listed on the secondary market (607), and may
retrieve a
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CA 02942696 2016-09-22
market state of the secondary market (606) including a set of products listed
on the
secondary market in order to do so. Individual product listings may be
rendered in
the secondary market area for products that are listed on the secondary
market, where
the individual product listings may include a product image, product name,
listing
price, which the customer interacting with the website may select in order to
purchase
the product from the secondary market (608). In some implementations, the PPR
system may also generate an alternative sellers element, which may present the
customer with a link to product listings for the same (or similar) products
that are
available for sale from other sellers or directly from the product retailer,
and may
utilize the product data platform (609).
[0051] The logic, circuitry, and processing described above may be encoded
or
stored in a machine-readable or computer-readable medium such as a compact
disc
read only memory (CDROM), magnetic or optical disk, flash memory, random
access memory (RAM) or read only memory (ROM), erasable programmable read
only memory (EPROM) or other machine-readable medium as, for examples,
instructions for execution by a processor, controller, or other processing
device.
[0052] The medium may be implemented as any device that contains, stores,
communicates, propagates, or transports executable instructions for use by or
in
connection with an instruction executable system, apparatus, or device.
Alternatively
or additionally, the logic may be implemented as analog or digital logic using
hardware, such as one or more integrated circuits, or one or more processors
executing instructions; or in software in an application programming interface
(API)
or in a Dynamic Link Library (DLL), functions available in a shared memory or
defined as local or remote procedure calls; or as a combination of hardware
and
software.
[0053] In other implementations, the logic may be represented in a signal
or a
propagated-signal medium. For example, the instructions that implement the
logic of
any given program may take the form of an electronic, magnetic, optical,
electromagnetic, infrared, or other type of signal. The systems described
above may
receive such a signal at a communication interface, such as an optical fiber
interface,
antenna, or other analog or digital signal interface, recover the instructions
from the
CA 02942696 2016-09-22
signal, store them in a machine-readable memory, and/or execute them with a
processor.
[0054] The systems may include additional or different logic and may be
implemented in many different ways. A processor may be implemented as a
controller, microprocessor, microcontroller, application specific integrated
circuit
(ASIC), discrete logic, or a combination of other types of circuits or logic.
Similarly,
memories may be DRAM, SRAM, Flash, or other types of memory. Parameters
(e.g., conditions and thresholds) and other data structures may be separately
stored
and managed, may be incorporated into a single memory or database, or may be
logically and physically organized in many different ways. Programs and
instructions may be parts of a single program, separate programs, or
distributed
across several memories and processors.
[00551 Various implementations have been specifically described. However,
many other implementations are also possible and may be readily ascertained by
a
person of ordinary skill in the art based on the teachings described above.
These
implementations and equivalents thereof are illustrated by the examples
described
above and the scope of the invention should be determined not by the examples
but
with reference to the claims and equivalents appended hereto.
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